Dems have ‘fiduciary responsibility to those who invest in our party’ HOW LEGAL CAN THIS BE

21Sep

How legal can this be? If someone owed me that much money…wouldn’t you do all you could to keep them in POWER?????

BY: Andrew StilesSeptember 21, 2012 2:10 pm

The Democratic National Committee (DNC) owes at least $8 million to a bank owned by one of the largest unions in the country, according to the committee’s most recent financial report.

The DNC initiated an $8 million loan with the Amalgamated Bank of New York on Aug. 10, the report shows, accounting for the majority of the committee’s overall debt of $11 million.

Amalgamated Bank, often described as “America’s Labor Bank,” is a national entity, the majority of which is owned by the Service Employees International Union (SEIU), a politically active union with deep ties to the Democratic Party. The SEIU is also involved with the Democracy Alliance, a shadowy group of wealthy left-wing donors founded by billionaire investor George Soros.